This week, Australia's real estate auction market showed a sluggish performance, with a noticeable decline in the number of auction listings, but a slight improvement in the clearance rate.
This week, a total of 1,132 properties went up for auction, with results collected for 1,117 properties. Of these, 748 were successfully auctioned, 216 were passed in, and the clearance rate reached 67%. Compared to last week, the number of properties up for auction decreased by 804 (about 41.5%); the number of successful auctions decreased by 475 (about 38.8%); and the clearance rate increased by 3 percentage points, indicating that although market participation decreased, the transaction efficiency slightly improved.
The performance across regions varied significantly, with notable increases in clearance rates in Sydney's Inner West, Melbourne's CBD, and Brisbane's North:
Sydney's Inner West clearance rate increased by 17 percentage points, reaching 83%;
Melbourne's CBD clearance rate rose by 19 percentage points, reaching 73%;
Brisbane's North clearance rate went up by 32 percentage points, reaching 58%.
Other areas like Sydney's Northern Beaches and Brisbane's Other Areas showed a trend of declining clearance rates. The clearance rate in Sydney's Northern Beaches fell by 17 percentage points to 62%, while Brisbane's Other Areas dropped to 33%.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1 million, with 168 transactions, accounting for the largest proportion.
This week's highest transaction price was for a property at 45 Mudies Road, St Ives, which sold for $6.68 million.
The median price of houses sold this week fell to $1,072,000, and the average transaction price dropped to $1,299,565, reflecting an increase in the proportion of lower-priced properties transacted, with market interest shifting toward mid-to-low-end properties. (Data for reference only)